67 B-Body ; Plastic is the best storage vessels/tanks/cells & Yes basically the steel will just rust instead of corrode from the water/condensation that is present in almost all alcohol products (hence the magnet in the steel fuel tank suggestion), alcohol of any kind, deteriorates as soon as it's exposed to the atmosphere, there are additives that will help slow it from deteriorating... Also pure rubber "is affected" by alcohol, it can dry out & rot from the inside of the fuel lines (causing many other issues), Teflon lined fuel lines can help eliminate the problem with the fuel lines, but any "true rubber" (not synthetic rubbers) parts though out the fuel system will be effected, the biggest issues I had were condensation & aluminum oxidation/corrosion (little white crystals that are very abrasive & tend to clog small orifices) & on any types of softer alloys, it dosen't seem to start right away, but it will happen sooner or latter, "I doubted it myself, thought it was an old wives tale", I had no problems for a while, I thought everyone was messing with me or were just idiots, until I started have fuel system issues mentioned, I would clean out the system regularly & would flush with pure gas, that did help some, but it would still act up at the worst times, like before a final round or late round qualifying... Straight Methanol is far worse than the "blended fuels like E-85" but it will still have the same effects just to a lesser/slower effecting levels.... Don't store the fuel on the heat or "direct sun" ever & don't store the fuel in a "high humidity" area ever, anything past "a few months max" open steel barrel especially, when they are full it's not much of a problem but as they empty the condensation issues goes up ten fold, (plastic jugs are far better storage) the alcohol after being exposed to the atmosphere will start to break down immediately & start fermentation (it will sweat producing condensation, oxidation, corrosion & molds)...